Citi

Just 16 days after Laurentino Cortizo took office as president, Panama tapped the bond market for its largest ever deal. The government said it needed to raise funds to make overdue payments.

BMW returned to China’s auto loan ABS market on Tuesday with a Rmb8bn ($1.2bn) two-tranche deal, its largest issuance so far, and received a big thumbs-up from investors.

India’s Adani Ports and Special Economic Zone has bagged $650m from 144A/Reg S bonds to fund a tender offer of notes due next year, pricing the new issuance at a competitive level.

Norway’s Yara has signed a $1.1bn-equivalent revolving credit facility, with the fertiliser company swapping its existing bank debt for a sustainability-linked deal.

Online education platform Youdao is working with a pair of US banks for a potential New York listing, according to a source familiar with the matter.

Chinese robotics company CloudMinds has started sounding out investors for a $500m IPO of American Depository Shares (ADS) on the New York Stock Exchange, according to bankers close to the situation.

Korea Western Power Co (Kowepo), the power supplier owned by state-backed Korea Electric Power Corp, sold $300m of three year notes on Monday, riding on strong demand from sovereign wealth funds and central banks.

Real estate investment trust (Reit) Fibra Terrafina sold $500m of 10 year bonds on Monday, with hefty tightening allowing the borrower to price closer to its largest Mexican rival than expected.

Citi is preparing a four tranche high yield deal to fund the creation of ‘Trivium’, a new metal packaging company, owned by Ontario Teachers' Pension Plan and formed from a $2.5bn spin-out from Ardagh, combined with its Exal business.

Emerging market consumer finance company Home Credit filed its draft prospectus in Hong Kong on Monday, setting its $1bn-plus IPO in motion, according to a source with direct knowledge of the matter.

China’s Wanda Sports Group began a week-long bookbuild on Monday morning, with a plan to raise as much as $500m on the Nasdaq.

Budweiser Brewing Company Apac shelved what could have been the largest float globally so far this year and the biggest in nearly a decade in Hong Kong after investors rejected its punchy valuation target, dealing a blow to the city’s IPO market.